Estate Planning
Estate planning is a process to consider alternatives for, to think through, and to set up legally effective arrangements that would meet your specific wishes if something happens to you or those you care about. Good estate planning is more than just a simple Will. Estate planning also typically minimizes potential taxes and fees, and sets up contingency planning to make sure your wishes regarding health care treatment are followed.
On the financial side, a good estate plan coordinates what would happen with your home, your investments, your business, your life insurance, your employee benefits (such as a 401K plan), and other property in the event you became disabled or if you die.
On the personal side, a good estate plan includes directions to carry out your wishes regarding health care matters, so that if you ever are unable to give the directions yourself, someone you select would do that for you, and know when you would want them to authorize heroic measures and when you would prefer they pull the plug.
Last Will and Testament
A Last Will and Testament is the means by which a person disposes of property after his or her own death. The Last Will and Testament can only dispose of those assets that are in the sole name of the person who has died. The Last Will and Testament can not dispose of assets that are held in trust, that are jointly owned with others, and that have a beneficiary designation such as IRA, life insurance policy or annuity.
Probate and Wills
Many people are confused by the probate process in general. Wills and other estate planning documents can make probate less complicated for children, surviving family members, and other heirs, and there are several reasons why probate is necessary and important.
To learn more about the probate process, read the information below and contact the law office of Michael D. Curran today.
Probate is the legal process that takes place
after someone dies and often involves:
- Proving in court that a deceased person's will is valid
- Identifying the deceased person's property
- Taking inventory of the deceased person's property
- Having the property appraised
- Paying debts and taxes
- Distributing the remaining property as the will directs
The law office of Michael D. Curran represents beneficiaries and fiduciaries, including executors, trustees, conservators, and guardians, in all types of probate proceedings. Each aspect of the probate process, regardless of whether the estate had a will, can be contested by an heir or other interested party. We handle probate administration involving:
We handle probate administration involving:
- Wills and trust
- Powers of attorney
- Medical directives
- Guardianships
- Conservatorships
- Accounting actions
- Trust contest and reformation
- Contested wills
- Will and trust construction
- Probate litigation
For further information about the probate process in Texas and your role as it applies to your loved one's estate, contact the law office of Michael D. Curran.
From our offices in McKinney, we serve individuals and families throughout Texas, including clients in Collin County, Dallas County, and Grayson County.
